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Pakistan Makes Progress in IMF Budget Talks

Pakistan has completed important discussions with the International Monetary Fund (IMF) regarding the upcoming national budget and economic reforms. The government assured the IMF that it will continue efforts to reduce the fiscal deficit, improve the tax system, and reform the energy sector. Reports state that Pakistan aims to achieve a primary budget surplus equal to 2% of GDP by 2027. The government is focusing on increasing tax collection and reducing unnecessary expenditures in the new budget.

Government Pushes Renewable Energy to Reduce Power Crisis

The federal government has decided to accelerate renewable energy projects to reduce the country’s electricity crisis and dependence on imported fuel. Prime Minister Shehbaz Sharif directed authorities to focus on solar, hydropower, and biogas projects. According to government officials, no new imported fuel-based power plants will be established, while the installation of smart meters will be expanded to reduce electricity theft and transmission losses. Authorities believe these measures will help stabilize electricity prices and improve the national economy in the coming years.